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Sep 25, 2012
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all kinds of things to try to deal with the deficit problem and these protesters are unhappy with the cuts that have happened. they don't want to see more of them on thursday. they need to do something. back to you. >> who are these people in the streets? >> that is a good question. most protests that you see in europe are orchestrated by the unions. this was more about younger people being out there. this was not organized by the unions even though they have been activity with protests in madrid as well. they have unemployment that is extremely high. >> live from madrid, spain. none of this seems to be scaring off veteran money manager, ken heebner. we'll hear this story in a few moments. please stay with us. >>> well, the pictures in spain contributed to the sell-off today. the dow dropped down to over 100 points. ken, great to have you. let me just have you, does it throw a monkey wrench into your optimistic monkey view? >> no. i think they are all agreed on a program to have more them doing the os teterity they are doing, they are going to support the ability of these countries to
all kinds of things to try to deal with the deficit problem and these protesters are unhappy with the cuts that have happened. they don't want to see more of them on thursday. they need to do something. back to you. >> who are these people in the streets? >> that is a good question. most protests that you see in europe are orchestrated by the unions. this was more about younger people being out there. this was not organized by the unions even though they have been activity with...
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Sep 25, 2012
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on the deficit you can the one issue, by the way, romney is going to win, 73-6, worse, that is unbelievable, way off the charts. romney eeks out a gain here or a win within the poll's margin of error of 3 1/2%. one more thing i want to show you this is foreign policy in the news, the u.n. meeting in the news this week, america's standing on the world, 16% of americans worse off than four years ago, 44% think obama would be better for that issue in the next four years. why is this? let's take a quick look here. slightly better economic numbers? no our economic numbers show people think thing are about as lousy as they have been s it perhaps, next item, somewhat better stock market? not really. people don't think the stock market is that great. three reasons come up from our pollsters why this may be true. changes in racial support, personal appeal and tax issues. let me go through these real quickly. look at what happened in support from different racial groups here from our june survey to our september survey. latinos, bumped up by 15 points right there. african-americans bumped up by 23. 9
on the deficit you can the one issue, by the way, romney is going to win, 73-6, worse, that is unbelievable, way off the charts. romney eeks out a gain here or a win within the poll's margin of error of 3 1/2%. one more thing i want to show you this is foreign policy in the news, the u.n. meeting in the news this week, america's standing on the world, 16% of americans worse off than four years ago, 44% think obama would be better for that issue in the next four years. why is this? let's take a...
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Oct 1, 2012
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we got current account deficit and that taps at 3.9%. was at about 4.5%. in the quarter gone by, there was a surplus of close to about $5 billion. and we just got the august trade data out, as well. imported out about 5.1%. and august trade data is more or less in line. on that note, it's back to you again. >> all right. thanks for that. gold a bit of a boost in the run up to qe being launched since -- >> yeah, consolidating. i guess we've seen a pretty positive correlation between qe and pursuing months. so i think we'll see it push higher. as we see the race to the base, it can only be good for the gold price and obviously an even more interesting place, the gold miners. >> i just want to point out this tie isn't because i'm long gold. it's actually because i'm supposed to be matching, see that, this is the -- >> you need to be in a blue tie. >> there's some yellow in there, fwr greg. should have worn a yellow shirt. >> next time. >> not that you should take any fashion advice for me. so what about the reaction to that chinese data? li has the details ou
we got current account deficit and that taps at 3.9%. was at about 4.5%. in the quarter gone by, there was a surplus of close to about $5 billion. and we just got the august trade data out, as well. imported out about 5.1%. and august trade data is more or less in line. on that note, it's back to you again. >> all right. thanks for that. gold a bit of a boost in the run up to qe being launched since -- >> yeah, consolidating. i guess we've seen a pretty positive correlation between...
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Sep 28, 2012
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cut the deficit and raise the tax rates on upper incomes of successful businesses, guess what it has not worked so far. if it was going to work, it would have already worked. so is this really obama's version of economic patriotism? let's talk. here's jimmy william and cnbc contributor of the american enterprise institute. what is so bloody patriotic about tax hikes, spending increases, regulatory increases and a lousy, worst economy since 1947? >> i'm worried what we will see in 2013 if the president wins is an economic patriot act. and part of it will be dramatically higher taxes on wealthier americans, entrepreneurs. anyone who thinks the end of the obama tax hikes are going to be raising it back to the clinton levels are crazy. you are going to see surtaxes, surtaxes on corporations. there's no way the obama spending numbers work without dramatically higher taxes far above what we saw in the clinton years. >> one of these things has my goat. obama talks about cutting tuition, you can't cut tuition if you expand student loans, is inflated tuition costs across the country and creat
cut the deficit and raise the tax rates on upper incomes of successful businesses, guess what it has not worked so far. if it was going to work, it would have already worked. so is this really obama's version of economic patriotism? let's talk. here's jimmy william and cnbc contributor of the american enterprise institute. what is so bloody patriotic about tax hikes, spending increases, regulatory increases and a lousy, worst economy since 1947? >> i'm worried what we will see in 2013 if...
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Sep 27, 2012
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today the government unveiling a new budget proposal to try to bring down the nation's crippling deficit. in it a proposed $51 billion spending cut next year, including an average 12% cut in government ministerial spending, a freeze in public pay for the third consecutive year, and a new 20% tax on lottery winnings. now, it does give something to the people. protection for pensions. well, bob pisani just happened to get back from spain, and he sent out his always interesting morning notebook. bob, i loved this one in particular because you basically said that what we keep quoting as a jobless rate in spain may be bunk, that people are simply working under the table? >> yeah, i'll give you an example. 25% unemployment is what they're talking about. but i had a landlord in barcelona. rented an apartment for one week. they asked for the payment in cash. they didn't want a check, didn't want anything else. my point is the bars lonens don't necessarily believe that. i wasn't in madrid, but in barcelona they're gripped by their own kind of secession of the fever. they're thinking of reseeding
today the government unveiling a new budget proposal to try to bring down the nation's crippling deficit. in it a proposed $51 billion spending cut next year, including an average 12% cut in government ministerial spending, a freeze in public pay for the third consecutive year, and a new 20% tax on lottery winnings. now, it does give something to the people. protection for pensions. well, bob pisani just happened to get back from spain, and he sent out his always interesting morning notebook....
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Oct 1, 2012
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and we need to cut -- close the deficit by a trillion. we got a trillion dollar deficit and it raises like -- i think it's less. maybe 40 billion. >> are you correct, it's not sufficient. >> and he's not talking about anything else. you can keep your entitlement, keep this -- he's not talking about doing specific things with entitlements. >> you're right to this extent. he's not talking specifics on entitlements. >> it's mostly we'll tax rich people so that -- or people that make over 250 and you'll basically get to keep everything including the phones. >> joe, i thought you either wanted to talk about the last minute kick that a billy -- >> i didn't see that. oh, the redskins. >> or my terrific story on debates in the "new york times" this morning. >> it was between piece. it was a very good piece. >> i did see that. >> thank you. let me recap. >> you didn't even mention the bengals beat the redskins. >> i was going to if you brought it up. and congratses on the reds, too. they have tied the nationals for best record in baseball. so we'v
and we need to cut -- close the deficit by a trillion. we got a trillion dollar deficit and it raises like -- i think it's less. maybe 40 billion. >> are you correct, it's not sufficient. >> and he's not talking about anything else. you can keep your entitlement, keep this -- he's not talking about doing specific things with entitlements. >> you're right to this extent. he's not talking specifics on entitlements. >> it's mostly we'll tax rich people so that -- or people...
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Sep 27, 2012
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they're trying to get the deficit down to 4.5% deficit. quite frankly, that is pie in the skil according to pretty much all the analysts and the economists. and it's just a question of how much they'll miss by. because this economy is enacting extreme austerity, and this debate is relevant whether it's obama or romney. is austerity actually denting growth, is it creating more problems than it solves. let me give you one example. we have a sales tax in this country that has been raised from 16% to 18% to 21%. that has created a slight inflation issue. now, pensions are inflation linked. and this country in november has to increase pension abouts by inflation. so by raising 2.5 billion euro v.a.t., it will cost them 3.5 billion euro misincreased pension costs. so you can see the conundrum. they're enacting enormous amounts of austerity, but that's denting an economy which is already in recession. its second since 2008. and things are getting worse. 25% unemployment, a million up sold homes. and we haven't even talked about the banking crisis
they're trying to get the deficit down to 4.5% deficit. quite frankly, that is pie in the skil according to pretty much all the analysts and the economists. and it's just a question of how much they'll miss by. because this economy is enacting extreme austerity, and this debate is relevant whether it's obama or romney. is austerity actually denting growth, is it creating more problems than it solves. let me give you one example. we have a sales tax in this country that has been raised from 16%...
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Sep 26, 2012
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what he's referring to the fact we're not going to let this increase the deficit. and so the growth in revenues as a result of the economic growth is going to pay for that in part, and we're also going to make the tax system flatter and fairer and simpler which is something else conservatives have wanted, which is also pro-growth. and that's the part the governor is emphasizing. >> he says don't expect any big tax cuts. first of all, you guys ought to pledge to the middle class those middle brackets. i'm not talking about the upper. the upper should lose their tax deductions and everything should be on the table. but i'm talking about the brackets that are around 15% to 28%, jim. that's where the take home is going to rise. you ought to say we're going to leave your deductions alone. we're going to take it out of the high of the upper income people because we're giving them a big tax cut. the middle class, he shouldn't even suggest they're going to be tax deductions. i wrote a column about this. i said use reagan's slogan. use reagan's slogan. all right. take-home
what he's referring to the fact we're not going to let this increase the deficit. and so the growth in revenues as a result of the economic growth is going to pay for that in part, and we're also going to make the tax system flatter and fairer and simpler which is something else conservatives have wanted, which is also pro-growth. and that's the part the governor is emphasizing. >> he says don't expect any big tax cuts. first of all, you guys ought to pledge to the middle class those...
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Sep 26, 2012
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so, you know, i would agree that we need to cut our deficits. it's just the wrong way to do it. >> so what is the better way to do it? here we have, you know, automatic cuts coming, automatic tax increases coming. a lot of people predicting that 2013 will be a recession as a result of this. we haven't even heard from the defense companies in terms of how many jobs they're about to cut because of it. so what's the best way to do it? >> keep in mind nobody wants the sequester to happen. maybe chris and his colleagues at catos are an exception. the idea of a sequester is so awf awful, it would cut so deeply into spending, it should never happen. it's a doomsday device, which is trying to get congress to do its real job, which is to focus on taxes and sbentitlements get a grand bargain. nobody wants it to happen, but we're playing a big game of chicken because nobody wants to do the other things that are necessary to get those deficits down. but look, if we cut $55 billion out of defense, which is what the sequester would do, in one year alone, in 2
so, you know, i would agree that we need to cut our deficits. it's just the wrong way to do it. >> so what is the better way to do it? here we have, you know, automatic cuts coming, automatic tax increases coming. a lot of people predicting that 2013 will be a recession as a result of this. we haven't even heard from the defense companies in terms of how many jobs they're about to cut because of it. so what's the best way to do it? >> keep in mind nobody wants the sequester to...
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Sep 28, 2012
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it's really important for the french government to meet the deficit target, the 3% public deficit target for the next year, because failing to reach this target would put france in a difficult situation. so far the country has been treated really well by the markets if you compare for instance with spain, but failing would put them in the same situation as spain and italy. >> where are you standing there and when are we expected to get the details of the budget? >> the budget will be presented at the weekly committee meeting in the next couple of minutes, but we don't have any public announcement only later this afternoon here at the budget ministry. the budget finance and budget minister will unveil the details. so this is where i'm standing right now and this is where we're going to have the details a bit later in the afternoon. >> we'll watch for all that. stefane from paris for us. let's swing over to steve sedgwick in madrid. and your location has seen protests, has basically been one of getting a sense of what the public is looking at. now you're at the stock exchange there. it see
it's really important for the french government to meet the deficit target, the 3% public deficit target for the next year, because failing to reach this target would put france in a difficult situation. so far the country has been treated really well by the markets if you compare for instance with spain, but failing would put them in the same situation as spain and italy. >> where are you standing there and when are we expected to get the details of the budget? >> the budget will...
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Oct 2, 2012
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deficit larry mean that is you are spending more than you are taking in. there are two things that you can do. you have to look at the spending to determine what you have to hold on. you have to set a priority to control spending. in the second thing you must have a program to increase growth in this country and new revenue. that makes a lot of the decisions about spending easier. you get more money coming in. >> president, you have been accused by your critics of failing to deal with entitlement spending reform and basically trying to raise taxes as the only means of deficit spending. are those charges fair? >> absolutely not. we had a deal going. myself and mr. baynor until mr. can toter stepped in. what i could support is that we would have tax cuts and we would have cuts in the budget and in areas certain revenues and increased ed in taxes. it seems fair $1 of tax increases and $3 to $4 of cuts in the budget. >> 3, to $4 to $1. could you guy into that? do you think your fellow republicans could buy into that? >> the more taxes you raise, the less growt
deficit larry mean that is you are spending more than you are taking in. there are two things that you can do. you have to look at the spending to determine what you have to hold on. you have to set a priority to control spending. in the second thing you must have a program to increase growth in this country and new revenue. that makes a lot of the decisions about spending easier. you get more money coming in. >> president, you have been accused by your critics of failing to deal with...
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Oct 3, 2012
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you mentioned that mitt romney's closed the deficit among likely voters for obama from five points to three points. and in florida, he's closed from five down to one which is tied given the margin of error in our poll. in virginia, he has closed the gap from five to two. if you look at the state of ohio, a must-win state for mitt romney, mathematically possible for him to get to it without it but his strategists think he needs it. he needs to make progress there. but the fact that some of the national polls are coming back a little bit, some of the swing state polls are tightening, is a bit of an earn couragement for romney that he still has an opportunity for deficit with three or four points to change the dynamic in some way. he's got to hope that obama is not on his best game. you could have a scenario that like what happened in 2000 where george w. bush moved significantly without gore and ultimately became president. >> it's interesting that the poll also shows, as you mention, this 12% of swingable votes in the middle that he could potentially get a hold of. also ensuring that t
you mentioned that mitt romney's closed the deficit among likely voters for obama from five points to three points. and in florida, he's closed from five down to one which is tied given the margin of error in our poll. in virginia, he has closed the gap from five to two. if you look at the state of ohio, a must-win state for mitt romney, mathematically possible for him to get to it without it but his strategists think he needs it. he needs to make progress there. but the fact that some of the...
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Oct 3, 2012
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in half and we've had four years of trillion dollar budget deficits. these are promises and he's got to be held accountable for that. >> i hope mitt romney is listening to this and takes your advice. a debate of 90 minutes is a precious commodity and i'm saying that from romney's perspective, there are other issues that have a much better chance to move him forward than talking about solyndra. >> i got to leave it there, gentlemen. i know, did -- please stay with cnbc for tonight's coverage. i'm larry kudlow. thanks for watching. [ male announcer ] the 2013 smart comes with 8 airbags, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. which can withstand over three and a half tons. and every day since, two years ago, the people of bp made a commitment to the gulf. we've worked hard to keep it. bp has paid over twenty-three billion dollars to help people and businesses who were affected, and to cover cleanup costs. today, the beaches and gulf are open for every
in half and we've had four years of trillion dollar budget deficits. these are promises and he's got to be held accountable for that. >> i hope mitt romney is listening to this and takes your advice. a debate of 90 minutes is a precious commodity and i'm saying that from romney's perspective, there are other issues that have a much better chance to move him forward than talking about solyndra. >> i got to leave it there, gentlemen. i know, did -- please stay with cnbc for tonight's...
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Oct 3, 2012
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that's a lot of revenue that could help with deficit, deficit reduction and our debt structure. the third piece of that is we could become more energy secure as a nation. today we're less reliant on outside sources. new technologies have allowed us to produce all the energy we'll need right here at home. if we create policies to allow us to use americans to create american energy, it'll benefit us all. those are the things that could be done immediately. >> so how come the administration isn't doing it, if it's that obvious these jobs can be created soon? >> well, it's unfortunate because i think their limitations on the industry is driven by, in my view, extreme ideology. it's driven by an irresponsible view that we can switch from one energy form to the other overnight. somehow, we can take the 62% of our energy in the u.s., which happens to be oil and natural gas, and just flip a switch and turn that to wind mills or solar panels. all energy forms are important to us, but the reality is it took us 100 years in the united states to get off wood as our primary form of energy. w
that's a lot of revenue that could help with deficit, deficit reduction and our debt structure. the third piece of that is we could become more energy secure as a nation. today we're less reliant on outside sources. new technologies have allowed us to produce all the energy we'll need right here at home. if we create policies to allow us to use americans to create american energy, it'll benefit us all. those are the things that could be done immediately. >> so how come the administration...
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Oct 2, 2012
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you need to gradually, year by year, reduce that deficit gradually. raise interest rates over time, in addition, need to focus from a fiscal standpoint on structural financing and structural investment that you know, this country sorely lacks. >> anyone have the will, the political will to be able to make those tough decisions right now? >> we will hear on wednesday in terms of the debates, i suspect not. the political will is divided is for their own team as for their own team, not necessarily for the united states. we are a little dour in terms of the ultimate prospects. >> matter who wins the president city for the markets? >> i don't thi so brian. i think basically what we have here is a large deficit that won't be reduced significantly. we have an easy fed that won't change its habits the next several years, the structural solutions required are five to ten years down the road. >> later on in the show, going to be talking about a mystery city that shall be unveiled that is going through its up potential minifiscal cliff, a major pension crisis. w
you need to gradually, year by year, reduce that deficit gradually. raise interest rates over time, in addition, need to focus from a fiscal standpoint on structural financing and structural investment that you know, this country sorely lacks. >> anyone have the will, the political will to be able to make those tough decisions right now? >> we will hear on wednesday in terms of the debates, i suspect not. the political will is divided is for their own team as for their own team, not...
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Oct 1, 2012
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, indirectly, they're selling the deficits to the banks and the fed's buying it from the banks. this is a bit like argentina, it's a bit like latin america. is there an inflationary bubble coming? >> i don't think so and here's the bottom line, we can't get industry, the manufacturers, the folks that want to borrow this money, we can't get them to take on projects. i do think the politicalization of wall street right now, the ceos don't want to invest because they don't know about the tax cuts. but we have trillions of dollars that is ready to get into money flow. we need the money to get higher velocity and they're not doing it because they can't get a return on their investment. >> what's romney going to stay in the debate tomorrow to really articulate -- >> he's not going to be able to say those trillions can -- >> here's what romney said, to the extent that there's been any recovery at all, to the extent that there's been any economy growth at all, it's been -- whatever we have had has been completely funded -- remember what obama said, i'm going to build a new foundation. i
, indirectly, they're selling the deficits to the banks and the fed's buying it from the banks. this is a bit like argentina, it's a bit like latin america. is there an inflationary bubble coming? >> i don't think so and here's the bottom line, we can't get industry, the manufacturers, the folks that want to borrow this money, we can't get them to take on projects. i do think the politicalization of wall street right now, the ceos don't want to invest because they don't know about the tax...
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Sep 25, 2012
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the fact that britain's budget deficit is going to be larger than greece itself means nothing. yes, it points out there is still fiscal vulnerability, but britain also has its own currency, it's not part of a defunct quasi unified surps city block. so to simply compare it with greece doesn't seem to add much value at all. >> yes, but it's got noteworthy applause, hasn't it. not applause. it has notoriety. and we do think mervyn king's already given the green light for the government to loosen up its deficit targets. >> meanwhile the defense ministers are reportedly set to meet over the planned $45 billion merger between bae and eads. our favorite name so far is beads. it's a warm and fuzzy name for a defense company. >> absolutely. beads. doesn't sound bad whatsoever. a little bit of a feminine touch there if you think about what you can put around your neck, but i i like it, too. the latest in that development is of course tomorrow tom enders will step into front of the german parliament to map out the kind of deal that we may expect from that merger. until now, all the govern
the fact that britain's budget deficit is going to be larger than greece itself means nothing. yes, it points out there is still fiscal vulnerability, but britain also has its own currency, it's not part of a defunct quasi unified surps city block. so to simply compare it with greece doesn't seem to add much value at all. >> yes, but it's got noteworthy applause, hasn't it. not applause. it has notoriety. and we do think mervyn king's already given the green light for the government to...
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>> there's no question the deficits have exploded under them. the last two decades among the two wars and the mistakes in my opinion, we blew a lot of money. multiples of what we blew before. so, you know, my attitude is that -- >> jimmy, my question is do you have any confidence no matter who is in office that actually the hard cuts that need to be made ultimately to make any text plan deficit neutral are actually going to happen? >> and my question to you comes down to a simple question. >> do you believe in the tooth fairy? >> who does the president listen to? i wonder if you could name for me four or five executives who have been advising the president and that he's been listening to. okay, four. okay, three. okay, two. okay, one. i'm waiting. one name. >> well -- >> you would argue -- >> if you think general electric the irrelevant to what's wrong with the country today. >> we have steve case on the air a lot who makes that argument. i think you are probably more right than wrong. >> ubs was losing their clients because of their affiliate w
>> there's no question the deficits have exploded under them. the last two decades among the two wars and the mistakes in my opinion, we blew a lot of money. multiples of what we blew before. so, you know, my attitude is that -- >> jimmy, my question is do you have any confidence no matter who is in office that actually the hard cuts that need to be made ultimately to make any text plan deficit neutral are actually going to happen? >> and my question to you comes down to a...
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Sep 25, 2012
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the one place where romney wins is as maria said, on the next one, on the deficit. overwhelmingly, people think the deficit is worse than it was four years ago. they're right. they say romney, only within the margin of error, which is 3.5%, plus or minus on this poll. take a look at the next series of charts. romney wins hands down on who will be better to invest for you. who do you want to coach your favorite team and who would you want to hang out with? about five to two americans pick obama. that may be part of the reason for obama's support here. another fascinating issue here is obama looks to have neutralized what would normally be a republican edge on the issue of taxes. who will increase your taxes? 45% of the public says obama. 42% say romney. you can see the reverse here on income groups. poorer people think that obama will not raise their taxes. they think romney will. the reverse when it comes to wealthier people. this is interesting. one other thing i want to show you is change in racial support. latinos, compared to our june survey, more support for ob
the one place where romney wins is as maria said, on the next one, on the deficit. overwhelmingly, people think the deficit is worse than it was four years ago. they're right. they say romney, only within the margin of error, which is 3.5%, plus or minus on this poll. take a look at the next series of charts. romney wins hands down on who will be better to invest for you. who do you want to coach your favorite team and who would you want to hang out with? about five to two americans pick obama....
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Sep 28, 2012
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tough budget deficit with 43 new rules in it. let's see how this works out. today, though, today is all about the banks. and today i'm just wondering following on from the chihuahua we saw earlier and if we're being sold a pup on the spanish market story because the banks will be told by the big four auditors that they potentially have shortfalls of capital of 62 billion euros. that's okay, though, because that's well within the parameters of the 100 billion euro credit line coming from the center of europe. but is this stress test strenuous enough, is it just a snapshot in time? because we still have a falling housing market. price down between 20% and 30% and no sign yet of that house price falls stopping. we've got deposit flight. if more deposits are taken out, they need more capital. there are concerns also about bad date. the latest figures from the bank of spain with 9.9% of debt in arrears. that's 169 billion euros. and then the thorny question of the bad bank. you may say they're all bad banks, but the bad bank is actually where are they going to put
tough budget deficit with 43 new rules in it. let's see how this works out. today, though, today is all about the banks. and today i'm just wondering following on from the chihuahua we saw earlier and if we're being sold a pup on the spanish market story because the banks will be told by the big four auditors that they potentially have shortfalls of capital of 62 billion euros. that's okay, though, because that's well within the parameters of the 100 billion euro credit line coming from the...
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Sep 28, 2012
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i think it is key to solving the deficit problem. the tax plan that i would love someone to put forward, and i'm not sure anyone has, is lower every rate and close every loophole. lower every rate on businesses. yes, on millionaires and billionaires. close all the loopholes, which generally favor the wealthy. they favor the large corporations. what that would do, obviously, is broaden the base. but it would help small businesses. >> absolutely. who are paying the ordinary income tax rate. if it goes up, they're really getting the short end of the stick here. the small businesses, which is the problem. >> the job creation engine. >> exactly. thank you so much. carly fiorina, robert frank. so how long do you think this will last if it is really true? zillo pegged the value of this detroit suburban home at only $52,000 this morning. this house, of course, is where police think notorious teamster's boss jimmy hoffa is buried. we'll have the latest on the big dig that has the nation gawking. >>> then i'll speak with the man who heads up o
i think it is key to solving the deficit problem. the tax plan that i would love someone to put forward, and i'm not sure anyone has, is lower every rate and close every loophole. lower every rate on businesses. yes, on millionaires and billionaires. close all the loopholes, which generally favor the wealthy. they favor the large corporations. what that would do, obviously, is broaden the base. but it would help small businesses. >> absolutely. who are paying the ordinary income tax rate....
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and doesn't resolve the question about how do you keep the code without increasing the deficit. but it's a promising proposal that tax policy exports like because it is achievable. now, if you lump the deductions together and don't fight them one by one and have a cap, that is easier to get done. >> on that 17,000, a, do you think we're going to hear about it tonight? does that include things like charitable deductions, mortgage deductions? how far do you think that goes? >> reporter: yes, it does. >> 17,000 cap across the board. that is meaningful. that would have a huge impact on the real estate market, it would have a huge impact broadly. >> reporter: yes, i believe from what i was reading yesterday, and i haven't gotten a chance to delve into it that $17,000 level was set purposefully because people in the under $200,000 income category generally speaking don't have more than that, right? but it makes it easier to begin taking on deductions as you move up the scale. so i do think it's positive. i would expect him to get asked about it and, you know, if he starts sketching ou
and doesn't resolve the question about how do you keep the code without increasing the deficit. but it's a promising proposal that tax policy exports like because it is achievable. now, if you lump the deductions together and don't fight them one by one and have a cap, that is easier to get done. >> on that 17,000, a, do you think we're going to hear about it tonight? does that include things like charitable deductions, mortgage deductions? how far do you think that goes? >>...
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we have seen a budget come out that continues to bring the deficit down to sustainable levels. europe has pledged to work in partnership with spain to make sure its banks get recapitalized and continue to afford a access the markets. we will see as they work in the partnerships the days ahead again, they have the tools and we see the political will on the part of the spanish go >> you watch spain, you just got back from china. i have a bunch of questions about china, stories in the paper, lael, in china is the first question, the second question is the republican nominee, mitt romney, has accused the obama administration of not being tough enough on china. the third question you have a report coming out october 15th on whether china is a currency manipulator. what are you going to say? >> well, let me just start with your first question. china's leadership team is undergoing a transition process and confront important questions how they are going to take forward their economic policy. steve, as you know, since day one, president obama's been extremely focused on achieving a mor
we have seen a budget come out that continues to bring the deficit down to sustainable levels. europe has pledged to work in partnership with spain to make sure its banks get recapitalized and continue to afford a access the markets. we will see as they work in the partnerships the days ahead again, they have the tools and we see the political will on the part of the spanish go >> you watch spain, you just got back from china. i have a bunch of questions about china, stories in the paper,...
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means we need to, you know, over the next few years, maybe five to ten years reduce our structural deficit by 1.5 trillion dollars a year. that's a lot of heavy lifting. you know, can we do that? perhaps. but the united states has gotten itself into a corner in terms of high debt level. it may lower real economic growth going forward. >> we didn't even bring up a picture of wimpy, the cartoon character you referred to in the last note. we'll look at the next one coming up shortly. >> thank you. >> certainly europe is a big part of the story again. another massive protest under way in spain. demonstrators railing against deeper austerity cuts. let's go to cnbc's own steve sedgwick in madrid. what's the situation on the ground? >> yeah. on the ground in this part of madrid we are just waiting to see if we see a recurrence of the violent scenes we have seen in the last 24 hours. scenes i have seen too much in greece and basically people are protesting against the kind of austerity that we know has to come if this country will get itself back on its feet. the austerity bill gross was talking a
means we need to, you know, over the next few years, maybe five to ten years reduce our structural deficit by 1.5 trillion dollars a year. that's a lot of heavy lifting. you know, can we do that? perhaps. but the united states has gotten itself into a corner in terms of high debt level. it may lower real economic growth going forward. >> we didn't even bring up a picture of wimpy, the cartoon character you referred to in the last note. we'll look at the next one coming up shortly....
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they're buying the entire deficit. >> do you think he's right? >> it's an important thing. you don't want to get into what we call the fiscal dominant regime where the fiscal authority or the congress and the president, they're borrowing a lot of money and the fed's role is to keep the interest rates low. that will end in tears. that is a bad policy. i'm fairly certain that none of my colleagues on the fomc are interested in going that direction. we're going to pursue monetary policy that is the right one for the nation, but it's not one that's trying to enable irresponsible fiscal policy. >> what are you hearing from business managers out there today? one of your colleagues said many times business managers are holding back from spending because of the uncertainty. they don't know what tax rates are going to be next year. do you agree with that? >> yeah, there's no question. my business contacts say the same thing here around the eighth district. the uncertainty around the future tax situation is serious. the uncertainty around the future of the u.s. economy is a serious d
they're buying the entire deficit. >> do you think he's right? >> it's an important thing. you don't want to get into what we call the fiscal dominant regime where the fiscal authority or the congress and the president, they're borrowing a lot of money and the fed's role is to keep the interest rates low. that will end in tears. that is a bad policy. i'm fairly certain that none of my colleagues on the fomc are interested in going that direction. we're going to pursue monetary...
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his plan would probably explode the budget deficit. it's not a fiscally responsible plan. >> isn't it true, chris, that he has said he needs to work with congress in terms of going into the specifics of what those loopholes are? >> well, that's true. ultima ultimately, congress, in particular the house ways and means committee, would ultima ultimately write any major tax reform plan. my problem here is tax reform is supposed to be about simplification. i think romney's $17,000 cap would complex complex if i the . that would add a whole bunch of new leans to the 1040, which would make the code more complex. i think we should go to something like the paul ryan house plan he introduced a couple years ago which would eliminate virtually all deductions and credits and use the money to simplify the tax structure down to 10 and 25%. romney needs to be more bold here. his running mate has the bold ideas for tax reform. that's where we should be going here. >> you know, we've had various members of the house ways and means committee on this pro
his plan would probably explode the budget deficit. it's not a fiscally responsible plan. >> isn't it true, chris, that he has said he needs to work with congress in terms of going into the specifics of what those loopholes are? >> well, that's true. ultima ultimately, congress, in particular the house ways and means committee, would ultima ultimately write any major tax reform plan. my problem here is tax reform is supposed to be about simplification. i think romney's $17,000 cap...
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they are buying the entire deficit. >>> and the case for precious metals. >> i love gold. it's too early to cheerlead a bull market in equities. we're going to find out where his funds are investing more than $10 billion. >>> and we are one week away from the presidential debate. >> what you just said is one of the most insanely idiotic things i've ever heard. >> a simple wrong would've done just fine. >> we'll convene our debate prep session with our guest hosts and howard dean, former governor and dnc chair. the third hour of "squawk box" begins right now. >>> welcome back to "squawk box" here on cnbc, first in business worldwide. i'm joe kernan along with becky quick. our guest host is neel kashkari. i'd be proud to say -- who did we have on yesterday? someone on talking about who saved the world, saying that, oh, it was barry diller. >> right, right. >> barry said that the president had helped to avert a much worse situation. but actually it goes back to bush and pall paulson and t.a.r.p. >> in hindsight, we didn't know if our programs were going to work. we feel very
they are buying the entire deficit. >>> and the case for precious metals. >> i love gold. it's too early to cheerlead a bull market in equities. we're going to find out where his funds are investing more than $10 billion. >>> and we are one week away from the presidential debate. >> what you just said is one of the most insanely idiotic things i've ever heard. >> a simple wrong would've done just fine. >> we'll convene our debate prep session with our...
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this in seven weeks before the presidential election we have a truth deficit in this country. and so don't sort of move around your statement saying we're out to produce the best products. are you? because what it sounds like to me is you're out to have the solid monopoly in apple product, you're sort of outpacing google now. and you're not doing it well. >> i know we've got to go. louis c. case said? >> you remind me of him. >> oh, god. but you're sitting in an airplane seat flying in a tin can at 30,000 feet and you're complaining because you don't have wi-fi. >> i know. >> you're in a can in the air. and you're traveling through space and time. and you're worried about no wi-fi. i don't know if i'm making the point or not. >> you're apple. >> i agree. too many outlets. >> the standard is high. >> the standard is high up and yes, too many outlets. >> i need an mimosa now after that rant. >> good job. >> was a drink named after you? >> the flower. the national flower of australia. >> yeah, waddle. what we call a waddle. you call it mimosa. >> mine apparently is the cactus. pr
this in seven weeks before the presidential election we have a truth deficit in this country. and so don't sort of move around your statement saying we're out to produce the best products. are you? because what it sounds like to me is you're out to have the solid monopoly in apple product, you're sort of outpacing google now. and you're not doing it well. >> i know we've got to go. louis c. case said? >> you remind me of him. >> oh, god. but you're sitting in an airplane seat...
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33% say creating jobs. 13% say reforming the tax code. 33% say reducing the federal deficit. 6% say health care. 15% say i don't really care. fascinating. >>> let's see what's coming up on street signs. mandy? >> okay. we're going to take a look at why oil prices are dropping for all the wrong reasons on street sign. yeah, we might get cheaper gas eventually, but at what cost to the global economy? >>> then, we're going to debate what is better for your money, an obama win or a romney win. >>> plus, the one thing that wall street wants to hear at tonight's debate. >>> and later on, american airlines says all the seats are fixed. >>> lots of things coming up at the top of the hour. back to you on "power lunch." >>> the world's top asset managers and investors are meeting today to discuss the economic landscape and how to navigate it. our david faber is with them at the barefoot economic summit in larue, texas. >> i've joined by founder, cio of golden tree house and management. they're in bank loans, they're in bond, distressed investments, private equity structured products. credit is the n
33% say creating jobs. 13% say reforming the tax code. 33% say reducing the federal deficit. 6% say health care. 15% say i don't really care. fascinating. >>> let's see what's coming up on street signs. mandy? >> okay. we're going to take a look at why oil prices are dropping for all the wrong reasons on street sign. yeah, we might get cheaper gas eventually, but at what cost to the global economy? >>> then, we're going to debate what is better for your money, an obama...
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Sep 25, 2012
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the deficit, the one issue of the eight categories where romney wins it but look at the huge margin. 73% of the public says it's worse than four years ago. flthis side, romney has a slight edge thank you for going backward, brian. one other issue i want to show you here, america's standing in the world, a lot of talk with the u.n. and issues of foreign policy, overwhelming margins americans think our standing in the world is worse than it was four years ago. flip on over, who is better? obama, 44-32, again, romney's support never goes above about 38% but that neither remains around 10, 11 or 12%. i want to show you the three categories where americans say things are not worse, stocks, 34% say things are better than they were four years ago, that's really interesting. i'll get more into this at 10:00. the s&p over the past four years is up 80% but only 34% of americans say their stocks are better. wages are even, 28% say better, 28% say worse, 42% say the same and this one, i thought this was interesting, personal health care access, you can say this is a success for obama or you can
the deficit, the one issue of the eight categories where romney wins it but look at the huge margin. 73% of the public says it's worse than four years ago. flthis side, romney has a slight edge thank you for going backward, brian. one other issue i want to show you here, america's standing in the world, a lot of talk with the u.n. and issues of foreign policy, overwhelming margins americans think our standing in the world is worse than it was four years ago. flip on over, who is better? obama,...
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., auto industry, stimulus, home modification and the deficits are going up, up, up. so i blew a valve on it. what would it be like to have this president with a lame duck scenario where he has no governor, where he can do without the notion that he has to get re-elected again. do you see this as a big market issue, in terms of dividend taxes, obama care, taxes and higher fees there? >> i most certainly do. i think he's going to try to push his agenda. some people want to look back too the clinton years when he lost big time in the midterms just as obama did. >> november '93. >> clinton gave ground. obama has given no ground. i don't know there's any indication he'll give any ground this time. that's a big mistake if that's the case. i hope not. but it appears that's a real possibility. >> how times have changed. i thought mitt romney had a bit of a -- he could do a bit of a "saturday night live" skit, he had some good laughs there, but think about al gore, vice president to clinton, how often did he use president clinton when he was campaigning in 2000? >> times do c
., auto industry, stimulus, home modification and the deficits are going up, up, up. so i blew a valve on it. what would it be like to have this president with a lame duck scenario where he has no governor, where he can do without the notion that he has to get re-elected again. do you see this as a big market issue, in terms of dividend taxes, obama care, taxes and higher fees there? >> i most certainly do. i think he's going to try to push his agenda. some people want to look back too...
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that he is doing what is he able to draw back from the labor unions in order to further bring that deficit down? that is a story for friday. a huge one. >> still have to get through today. thanks a lot, simon. crude is still below 90. >> still below 90 and the problem that is simon outlined so well are definitely traders are the floor are talking about and impacting negatively the oil price. we're seeing oil prices that already slipped below $90 a birl for the first time since early august fall further after the data we reported earlier on the oil inventories and also on oil demand over the last week here in the u.s. that has really helped to put oil prices here, the wti contract, for one, in correction territory. we're seeing a slide in oil prices that we have seen since september 14th of over 10% going to the lows of the session today which are below $89 a barrel. we did find the distillate demand last week dropped by about 9%, almost 9% just in one week's time and this is the second decline in a week. we're looking at the weakness in distill lat demand having an impact here on the oil p
that he is doing what is he able to draw back from the labor unions in order to further bring that deficit down? that is a story for friday. a huge one. >> still have to get through today. thanks a lot, simon. crude is still below 90. >> still below 90 and the problem that is simon outlined so well are definitely traders are the floor are talking about and impacting negatively the oil price. we're seeing oil prices that already slipped below $90 a birl for the first time since early...
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unveiling a 75% supertax rate for the wealthy as part of the eurozone country's plan to bring down its deficit. so which other countries have super-high tax rates? and what are the implications here in the u.s., robert frank? >> reporter: well, franco francois allan brought bad news for the french today. this increases their tax rate from 48% to a whopping 75% income tax rate. this would apply to people who make more than 1 million euros a year. and france now by far has the highest income tax in the world. if you look at this chart you see france there at number one, second place is aruba followed by sweden, 56%. then the u.s. way down on the ranks at number 35. sort of in the middle of the whole list with its again 35% top tax rate in the u.s. early estimates said this 75% tax rate would only affect around 30,000 taxpayers. but i've been on the phone with a lot of french tax lawyers this morning. they said the number's far lower. maybe only 2 to 3,000 people in france would actually pay this tax. the reason is that this tax really only applies to salary and ordinary incomes. it doesn't apply
unveiling a 75% supertax rate for the wealthy as part of the eurozone country's plan to bring down its deficit. so which other countries have super-high tax rates? and what are the implications here in the u.s., robert frank? >> reporter: well, franco francois allan brought bad news for the french today. this increases their tax rate from 48% to a whopping 75% income tax rate. this would apply to people who make more than 1 million euros a year. and france now by far has the highest...
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minors slumped following a short rise in the trait deficit. india now higher by .2%. >> up next, uk drinks maker have been given an extinction to survive. that's up next. >>> and now for a fluffy news story. we don't always get to do this. looking at pictures of cute animals may actually increase workers' concentration and productivity. that's according to researchers at the university of hiroshima. does your cute puppy or cat increase your productivity? if you want to join the conversation, get in touch with us by e-mail, via twitter, and i'm also on twitter as well. >>> the french president is facing some pest problems. a small group of entrepreneurs are making headlines in france with the protest against a jump in capital gains tax, calling themselves the pigeons, that's french surveillance for the fall guys. their viral campaign has attracted thousands of followers on facebook and twitter. let's get out to stephane in paris who's been following the pigeons. always sounds more attractive in french. holland is facing no shortage against the
minors slumped following a short rise in the trait deficit. india now higher by .2%. >> up next, uk drinks maker have been given an extinction to survive. that's up next. >>> and now for a fluffy news story. we don't always get to do this. looking at pictures of cute animals may actually increase workers' concentration and productivity. that's according to researchers at the university of hiroshima. does your cute puppy or cat increase your productivity? if you want to join the...
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. >> he's concerned about iphones and budget deficits. but you see britons as something very different, somebody unlike yourself, which is not true. >> it means great charter. >> i saw that. >> all i know is corpus christi is a town in texas. i don't know what it means. habeas corpus? jon, you're a lawyer. what does habeas corpus mean? >> i don't know. >> there's a lawyer, he doesn't know. and he's not even british. how do you like that? anyhow, moving on to the next one, right? sears and darden restaurants offering cash to buy their own health plans. the company says it's not to save money. yeah, right. but do give workers more control. i always like that when they put it in there as a more controlled kind of thing. >> that's not the purpose of an employer, to give you more control. so you know at some level this is about saving money for the company. so what that means is over the long term health care costs are going to shift to employees. this is happening in a lot of big companies. they're considering -- >> here's what our yahoo.com
. >> he's concerned about iphones and budget deficits. but you see britons as something very different, somebody unlike yourself, which is not true. >> it means great charter. >> i saw that. >> all i know is corpus christi is a town in texas. i don't know what it means. habeas corpus? jon, you're a lawyer. what does habeas corpus mean? >> i don't know. >> there's a lawyer, he doesn't know. and he's not even british. how do you like that? anyhow, moving on to...
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the budget including spending cuts to reduce the deficit. what's the impact of what may well be the world's highest tax on the rich? robert frank takes a deeper look at that. >> thanks, carl. i never thought this would actually happen but the budget unveiled the new budget and it's bad news for france. people in france who make more than 1 million euros a year will have to pay 75%. i'll say it again because it's an amazing number. 75%. this would only affect 30,000 taxpayers and bring in a few hundred million a year, but this would be far and away the highest tax rate in the the world. so let's take a look. we have a chart. france, look at that. number one at 75%. number two is 58% in aruba. the u.s. on the chart ranks 35 on the list with its tax rate of 3 35%. the question now, carl, is whether all these taxes will lead to job flight from france. now tax lawyers i interviewed this morning say they are getting a fairly normal volume of calls. but that's because most people have made plans to leave. we talked about one. bernard arnault. he's
the budget including spending cuts to reduce the deficit. what's the impact of what may well be the world's highest tax on the rich? robert frank takes a deeper look at that. >> thanks, carl. i never thought this would actually happen but the budget unveiled the new budget and it's bad news for france. people in france who make more than 1 million euros a year will have to pay 75%. i'll say it again because it's an amazing number. 75%. this would only affect 30,000 taxpayers and bring in...
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austerity measures clearly aren't going to help, it's only going to make it more difficult to meet deficit targets. it's only going to make it more difficult to work down that debt to gdp ratio when the denominator is also shrinking. >>> while we focus on spain and yields rising, we do have the result of this italian tea bill auction. the six-month bill auction, the yield, 1.503%. it was 1.58% at the end of august, the lowest since march. there is a contrast here between what is happening with italian auctions and spanish auction. we saw earlier this week, the spanish bill auction yields up since august. they continued to fall. they are still going lower in italy. once again, maybe the market price differently in italy and spain. >> even though italy has key elections coming up next year, we're hearing some rhetoric as to whether or not he's going to run. of course he didn't run last time, but nevertheless, here's someone who -- the potential for this event and to mark an uncertainty. italy still viewed more favorably. >> i didn't see if they rais raised -- did you see the amount? >> looks
austerity measures clearly aren't going to help, it's only going to make it more difficult to meet deficit targets. it's only going to make it more difficult to work down that debt to gdp ratio when the denominator is also shrinking. >>> while we focus on spain and yields rising, we do have the result of this italian tea bill auction. the six-month bill auction, the yield, 1.503%. it was 1.58% at the end of august, the lowest since march. there is a contrast here between what is...
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64 billion euros worth of austerity which he hoped then would carry us through to 2014 and get the deficits back on track and get the economy back on track and get the pay masses of germany and the ecb off their backs. and the bond markets. all other things did not remain equal, and the economy continued to contract. the bond markets have begun to sell off now. and the pay masters say we need more austerity. for a country that's in deep recession that has 25% unemployment, 50% youth unemployment and a recessionary environment since december last year, that is a bitter pill to swallow. it is a bitter pill literally on the ground where i'm standing because for the last two nights, the public have protested. we've seen behind me these barricades which are blocking the entrance to the parliament for the protesters over the last 24 hours. that is where we saw the rubber bullets and indeed around thousands of protesters just bemoaning their luck in what is a tough environment. what will rajoy try and do next? we're talking about another bout of taxes, some saying 40 billion euros worth of spendin
64 billion euros worth of austerity which he hoped then would carry us through to 2014 and get the deficits back on track and get the economy back on track and get the pay masses of germany and the ecb off their backs. and the bond markets. all other things did not remain equal, and the economy continued to contract. the bond markets have begun to sell off now. and the pay masters say we need more austerity. for a country that's in deep recession that has 25% unemployment, 50% youth...
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imagine what would happen if we dealt with the budget deficit in a meaningful way and did deal with the issues? one thinks the uncertainty cloud goes away. if it doesn't, there's something else going on. >> i was referring to a sorkin column arguing that a lot of the p.e. firms have to use this money in the next few months. pretty lofty money when you talk about price times, even at dow, right? >> i'm surprised there hasn't been more activity from private equity. they need to put the money to work or god forbid to give it back. that's not something they want to do. they can borrow fairly well. maybe not to the size overall of the deals percentagewise, but incredibly generous terms and we have not seen the kind of deals we may have anticipated. i know andrew wrote about that today. >> i'm pro-law on "mad money" as the large real estate trusts are getting industrial use in warehouses. he said something really interesting, you know what? we are finally running out of space. we are going to have to start building. nobody's building anything. don wood and comes, we are almost out of shopping
imagine what would happen if we dealt with the budget deficit in a meaningful way and did deal with the issues? one thinks the uncertainty cloud goes away. if it doesn't, there's something else going on. >> i was referring to a sorkin column arguing that a lot of the p.e. firms have to use this money in the next few months. pretty lofty money when you talk about price times, even at dow, right? >> i'm surprised there hasn't been more activity from private equity. they need to put...
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all those same polls that show president obama leading and claims to correct the bias, turning romney deficits into commanding romney leads. the idea behind it is simple. all polls base the outcome on what pollsters believe the electorate will look like, how many democrats versus how many republicans they think will actually turn out. getting that partisan makeup wrong can tilt the predictions. the people that don't believe the polls say this time, pollsters think the 2012 electorate will look a lot like 2008 and this they say is wrong. notice i said this time. back in 2004, democrats complained that the polls which showed george w. bush leading were overestimating the number of republicans who would vote. they were wrong. the polls were right. now, in 2000 al gore said don't believe the polls. polls showed him losing narrowly. polls were right. in fact, it's hard to find an example of the polls on average getting it wrong unless you go back to 1948, when they predicted thomas dewey defeated president harry truman. cnn political contributor ari fleischer joins us. he's an occasional unpaid com
all those same polls that show president obama leading and claims to correct the bias, turning romney deficits into commanding romney leads. the idea behind it is simple. all polls base the outcome on what pollsters believe the electorate will look like, how many democrats versus how many republicans they think will actually turn out. getting that partisan makeup wrong can tilt the predictions. the people that don't believe the polls say this time, pollsters think the 2012 electorate will look...
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the last time anyone came back from a four-point deficit was in 1999 and that was on home soil. and that was a stunning final day then. but for the europeans to come over to the american soil and to achieve this victory, it's truly historic. it was not expected at all. the americans looked like they were going to be racing favorites and certainties on the final day. all they needed from a possible 12 points was 4 1/2. they only managed 3 1/2. so it was left to the europeans to lead from the front, leading by example with an incredible spirit and an incredible belief. and they won the first five matches. and the united states could not respond. tiger woods had a very poor week here and, indeed, the whole american team were left dumb struck on the final day after combining so well on the first two days and displaying wonderful team spirit. but it did not fire at all on the last day. >> i didn't know golfers could get that excited. talk about amazing. let's talk about rory mcilroy, he won a big match, but he almost missed his tee time, which is, of course, kind of embarrassing. >>
the last time anyone came back from a four-point deficit was in 1999 and that was on home soil. and that was a stunning final day then. but for the europeans to come over to the american soil and to achieve this victory, it's truly historic. it was not expected at all. the americans looked like they were going to be racing favorites and certainties on the final day. all they needed from a possible 12 points was 4 1/2. they only managed 3 1/2. so it was left to the europeans to lead from the...
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Sep 28, 2012
09/12
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the romney campaign is firing back as in, hey, a humongous deficit is not patriotic. >> this is a land where economic freedom has allowed people to pursue their dreams and in doing so and achieving success, they lift us as a nation, they give us jobs, i will not apologize for success here and i will never apologize for america abroad. >> how's that for economic patriotism, whatever that is? so the talk back question for you this morning, is there such a thing as economic patriotism, facebook.com/carolcnn, your responses later this hour. >>> when we think of bounties in football now we think of the new orleans saints. saints' head coach, sean payton is on the golf course instead of the football field this season after the nfl suspended him for his role in bountygate. a former assistant of another team says his players were offered cash for big hits on opponents. these weren't nfl players. they were 10 year-olds. here's casey wian. >> reporter: the 2011 red cobra's pop warner football team went undefeated in the regular season. >> this was a team that knew it was on the verge of greatnes
the romney campaign is firing back as in, hey, a humongous deficit is not patriotic. >> this is a land where economic freedom has allowed people to pursue their dreams and in doing so and achieving success, they lift us as a nation, they give us jobs, i will not apologize for success here and i will never apologize for america abroad. >> how's that for economic patriotism, whatever that is? so the talk back question for you this morning, is there such a thing as economic patriotism,...
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Sep 26, 2012
09/12
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and you talk about the deficit? the paul ryan budget that mr. romney says is a marvelous budget won't achieve balance until 30 years from now? romney-ryan aren't even fiscally responsible in their plans. all they want to do is to go back to the bush policies. >> let me interrupt. >> the debt just went up astro nommicly under this president. he's moving in the wrong direction. >> thank you both, ted strickland, ken blackwell, appreciate the discussion. thank you. >>> the world is focusing on iran's nuclear program, thanks in part to israel's attention to the issue. but what about israel's nukes? we investigate next. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. and the c
and you talk about the deficit? the paul ryan budget that mr. romney says is a marvelous budget won't achieve balance until 30 years from now? romney-ryan aren't even fiscally responsible in their plans. all they want to do is to go back to the bush policies. >> let me interrupt. >> the debt just went up astro nommicly under this president. he's moving in the wrong direction. >> thank you both, ted strickland, ken blackwell, appreciate the discussion. thank you. >>>...
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Sep 30, 2012
09/12
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so as a deficit, romney has a plan but it's a secret. the republican party has imposed a new kind of political correctness on their leaders. they cannot speak certain words, taxes, speculate about certain ideas, a path to citizenship, because these are forbidden. romney has tried to run a campaign while not running afoul of his party's strictures. as for himself he's twisted himself into a pretzel, spoken vacuously. that's a straightjacket even peggy noonan's eloquence can't get him out of this. for more on this, read my "washington post" column this week on cnn.com. >>> for eight years mahmoud ahmadinejad has come to the u.n. general assembly and every time he's caused controversy, making accusations. veiled threats. this year was different. it was mostly platitudes about world peace but he had plenty of sharp comments in a series of interviews. his conversation with me was his final one. perhaps his final one on the world stage. you see, iran's election law says he can't run again and elections are set for 2013. so i asked him about is
so as a deficit, romney has a plan but it's a secret. the republican party has imposed a new kind of political correctness on their leaders. they cannot speak certain words, taxes, speculate about certain ideas, a path to citizenship, because these are forbidden. romney has tried to run a campaign while not running afoul of his party's strictures. as for himself he's twisted himself into a pretzel, spoken vacuously. that's a straightjacket even peggy noonan's eloquence can't get him out of...
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Sep 25, 2012
09/12
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so that added to the national deficit. and one other thing that we should talk about in terms of the national deficit, part of it is that we're not bringing in as much revenue as we should be bringing in to pay for all the things, the services and programs that the american people continue to desire. there's no question under this president that we've seen, you know, the most significant budget cuts also in the history of country. discretionary spending is at its lowest in 60 years. taxes are also at their lowest. but the one thing that the democrats have not done, we haven't walked away from the table. we haven't pointed fingers and said it's their fault. we're all in this together. it's time republicans roll up their sleeves and come to the table so we can fix this problem and solve our many other great challenges before the end of the year and the american people can get back to work. that's what they desire us to do. >> i think both of these presidential candidates are gearing up for their one presidential debate in oc
so that added to the national deficit. and one other thing that we should talk about in terms of the national deficit, part of it is that we're not bringing in as much revenue as we should be bringing in to pay for all the things, the services and programs that the american people continue to desire. there's no question under this president that we've seen, you know, the most significant budget cuts also in the history of country. discretionary spending is at its lowest in 60 years. taxes are...
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. >> $1.3 trillion deficit you definitely need something to bring that deficit down. bring the national debt down at some point down the road. once there is a balanced budget. who knows when that would be. most people assume nothing is going to happen as far as the fiscal cliff is concerned between now and november 6. but afterwards in that lame duck session between november 6 and december 31, something will happen. are you among those who will agree -- agree that the fiscal cliff will be avoided? >> yes. i think it will be avoided. i mean, you know, depends on the election. you know. if governor romney wins it is likely -- would kick the can into next year. leave everything the same for a few months. let -- the new president come into office and get it together. probably in the spring. president obama wins the election, then right after the election, lame duck, the clock will start ticking and he will be under a lot of pressure to do something. let me say one other thing. you know, i think the most likely scenario is that we are actually going to have to go into next
. >> $1.3 trillion deficit you definitely need something to bring that deficit down. bring the national debt down at some point down the road. once there is a balanced budget. who knows when that would be. most people assume nothing is going to happen as far as the fiscal cliff is concerned between now and november 6. but afterwards in that lame duck session between november 6 and december 31, something will happen. are you among those who will agree -- agree that the fiscal cliff will be...
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Sep 26, 2012
09/12
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who's better equipped to deal with the deficit and debt. the more they play to the religious right on social issues, the more they risk alienating these centrist voters. >> did you disagree? >> absolutely. the latest polls show that people trust obama more now with the economy. this economy issue solely is a losing issue for romney as the economy improves, but also it fails to reck thiz people care about other things other than just the economy. >> pastor jeffers, if i may, i was making the distinction about not just the economy, but deficit and debt. so, i appreciate your desire to have your nominee really focus on playing to the base in the religious right. that is your prerogative, but you can't rewrite polls to say that's a winning strategy when it comes to reaching out. >> what i'm saying to you is that i think the hunt for these elusive independent or undecided voters out there is going to be a losing strategy. it was in 2008 for john mccain. i think it will be this time. i'm not saying he has to make these social issues the heart of
who's better equipped to deal with the deficit and debt. the more they play to the religious right on social issues, the more they risk alienating these centrist voters. >> did you disagree? >> absolutely. the latest polls show that people trust obama more now with the economy. this economy issue solely is a losing issue for romney as the economy improves, but also it fails to reck thiz people care about other things other than just the economy. >> pastor jeffers, if i may, i...